ES Journal Archive (2011)

[Picaso]

Quote from Laissez Faire:

They got me! :eek:

Not reading this afternoon at all. It seems like some kind of triangle formation is setting up, but it is not very clear.

33 right now is probably a very nice long/short, with the obvious target of the daily high/low.

For some reason, I`m still favouring a long, but remember that I`m a great fade recently

LF, you're not a great fade at all, today you called two >10 point trades, one short at the open and another one long when most people were thinking continuation.

Think again about what some of us have told you about taking profits more commensurate with your stops. Also consider entering closer to the edges (or widening a bit your stops so they will not be in the middle of the chop, like this last one).

So they got you this time - now go get'em - two can play that game

 

[Laissez Faire]

Quote from Picaso:

LF, you're not a great fade at all, today you called two >10 point trades, one short at the open and another one long when most people were thinking continuation.

Think again about what some of us have told you about taking profits more commensurate with your stops. Also consider entering closer to the edges (or widening a bit your stops so they will not be in the middle of the chop, like this last one).

So they got you this time - now go get'em - two can play that game

Hehe. Thanks for the encouragement.

We sure picked up some steam out of this triangle, curiuos if it`s a fake breakout. There`s even a gap on my 1-minute chart @ 34. Perhaps they`ll fill that one first. I guess not.

The truth is that I got back in below for a long with a tight stop, but I`ll keep my delayed entries for myself

 

[Picaso]

Quote from Laissez Faire:

The truth is that I got back in below for a long with a tight stop, but I`ll keep my delayed entries for myself

Uuuuuuhhhhhh....

EMG will punish you for that retort...

 

[A-No1]

papertrade:

long@1139 stop@ 1135 target@ 1144

 

[Picaso]

Hard to call from here.

Sitting on my hands.

 

[A-No1]

all bets are off with breaking news; now in god's hands

 

[Laissez Faire]

Quote from Picaso:

Hard to call from here.

Sitting on my hands.

Consolidation and now a triangle breakout?

Don`t mind the trade on the chart

I wonder if the day low/high is already in or if we have a chance to continue filling that gap above.

 

[A-No1]

Quote from A-No1:

papertrade:

long@1139 stop@ 1135 target@ 1144

new target ~1150

 

[tomahawk]

Quote from Laissez Faire:

Consolidation and now a triangle breakout?

Don`t mind the trade on the chart

I wonder if the day low/high is already in or if we have a chance to continue filling that gap above.

T-day boys may step in early ... would seem filling that gap is almost certainly on their agenda for sometime tomorrow (if not sooner).

 

[Picaso]

Quote from Laissez Faire:

Consolidation and now a triangle breakout?

Don`t mind the trade on the chart

I wonder if the day low/high is already in or if we have a chance to continue filling that gap above.

Yes, we just broke that upper trendline. Not too sure about continuation, though.

I realize that you cannot take partial profits with one car, but have you thought about exiting on extensions and reentering on pullbacks. As in a few 5' bars ago we had a 6 point candle that looked "tired" at 41-42, then enter on the first green bar (around 38-39) with a stop below it (36-37). Yes, you will miss a few monster trades that don't pull back, but overall you'd be raking in more points than you're currently and also you will have a way smoother equity curve.

Just my 0.02